– All those who wanted to drink champagne, because even single-digit inflation was expected in August, must cool it down for some time – said Dr. Hab. Aneta Zelek, economist from the West Pomeranian Business School in Szczecin. She added that inflation was still very high.
Inflation, although decreasing month by month, still remains at a double-digit level. – There is no great reason to be delighted, inflation is still very high, it is four times higher than the inflation target. After all, this is inflation about twice as high as the European Union average – said Dr. Hab. Aneta Zelek.
Inflation is falling slowly
As the expert notes, the decline in inflation is slow and it is too early to be happy. The process of overcoming the crisis will take years to reach the NBP’s inflation target of 2.5%. with a tolerance of 1 percentage point. down or up, it may take up to two years.
– In fact, there is nothing to celebrate, we cannot celebrate, we still have a very long disinflationary path ahead of us, i.e. a decline in the level of inflation. According to all estimates, there is a high probability that we will reach this inflation target sometime at the end of 2025, and the most pessimistic estimates show that inflation (high – editor’s note) may accompany us still in 2026, she said.
Inflation in Poland
On Thursday, the Central Statistical Office released a preliminary estimate of CPI inflation for August. It amounted to 10.1 percent. This is the so-called quick respect. Details of the data – how exactly the prices of individual food goods, other products (fuel, energy, clothing, etc.) and services have changed – will be known on August 14.
Reading 10.1 percent. is the lowest since February 2022, when annual inflation was 8.5%. Inflation in Poland has been falling for the sixth month in a row – it peaked in February this year when it reached 18.4%. Every year. Since April 2021, the consumer price index has been above the upper limit for deviations from the inflation target, set by the Monetary Policy Council at 2.5%.